Maxim Group Maintains Their Hold Rating on Pennantpark Floating Rate (PFLT)


Maxim Group analyst Michael Diana maintained a Hold rating on Pennantpark Floating Rate (PFLT) yesterday. The company’s shares closed last Friday at $10.27.

According to TipRanks.com, Diana has currently 0 stars on a ranking scale of 0-5 stars, with an average return of -1.9% and a 49.3% success rate. Diana covers the Financial sector, focusing on stocks such as First Eagle Alternative Capital BDC, First Savings Financial Group, and Westamerica Bancorporation.

Currently, the analyst consensus on Pennantpark Floating Rate is a Moderate Buy with an average price target of $11.00.

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Based on Pennantpark Floating Rate’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $13.62 million and net profit of $12.56 million. In comparison, last year the company earned revenue of $5.48 million and had a net profit of $4.52 million.

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PennantPark Floating Rate Capital Ltd. is a closed-end, externally managed, non-diversified investment company. It invests primarily in loans bearing a variable-rate of interest or floating rate loans, and other investments made to U.S. middle-market companies. The company was founded by Arthur Howard Penn on October 28, 2010 and is headquartered in New York, NY.

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